SEE Reports Q3 2023 Results

Net sales of $1.38 billion, down 1% as reported; flat at constant currency
Net earnings of $58 million, down 57%
Cash flow from operations (YTD) of $193 million

“Our third quarter results were in line with our expectations and reflect continued weakness in our end-markets,” said Emile Chammas, SEE’s Interim Co-CEO and COO. “While our long-term strategy remains intact, we are focused on improving execution across our innovation, supply chain and commercial efforts. Our business has faced challenges in the past and we have persevered. I am confident that we can navigate the current cyclical market conditions and position SEE for long-term growth.”

“We delivered strong free cash flow in the third quarter and began to strengthen our balance sheet,” said Dustin Semach, SEE’s Interim Co-CEO and CFO. “While we are making good progress on cost take-out to grow and portfolio optimization, we plan to accelerate our efforts as we close out 2023 and head into 2024. I am excited to partner with Emile as we continue to build a culture of execution and accountability.”
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